The Hanover Insurance Group (NYSE:THG) Reaches New 1-Year High – Here’s Why

The Hanover Insurance Group, Inc. (NYSE:THG) reached a new 52-week high during trading on Friday . The company traded as high as $167.89 and last traded at $168.25, with a volume of 10326 shares trading hands. The stock had previously closed at $166.00.

Analyst Upgrades and Downgrades

THG has been the topic of a number of analyst reports. Janney Montgomery Scott lowered The Hanover Insurance Group from a “buy” rating to a “neutral” rating and set a $176.00 price target on the stock. in a research report on Thursday, November 21st. Barclays upgraded The Hanover Insurance Group to a “hold” rating in a research report on Friday, January 24th. BMO Capital Markets upped their target price on The Hanover Insurance Group from $161.00 to $180.00 and gave the company an “outperform” rating in a research report on Thursday, December 19th. Morgan Stanley upped their target price on The Hanover Insurance Group from $165.00 to $170.00 and gave the company an “equal weight” rating in a research report on Thursday, February 6th. Finally, Keefe, Bruyette & Woods upped their target price on The Hanover Insurance Group from $176.00 to $179.00 and gave the company a “market perform” rating in a research report on Monday, February 10th. Five investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $175.25.

The Hanover Insurance Group Trading Up 2.7 %

The firm has a fifty day simple moving average of $156.75 and a 200-day simple moving average of $152.68. The firm has a market cap of $6.14 billion, a P/E ratio of 14.58 and a beta of 0.72. The company has a debt-to-equity ratio of 0.25, a current ratio of 0.40 and a quick ratio of 0.40.

The Hanover Insurance Group (NYSE:THG) last announced its quarterly earnings results on Tuesday, February 4th. The insurance provider reported $5.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.45 by $1.87. The Hanover Insurance Group had a return on equity of 18.01% and a net margin of 6.83%. On average, equities research analysts expect that The Hanover Insurance Group, Inc. will post 14.37 earnings per share for the current year.

The Hanover Insurance Group Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Friday, March 28th. Shareholders of record on Friday, March 14th will be issued a $0.90 dividend. The ex-dividend date of this dividend is Friday, March 14th. This represents a $3.60 annualized dividend and a yield of 2.11%. The Hanover Insurance Group’s payout ratio is currently 30.80%.

Institutional Trading of The Hanover Insurance Group

Institutional investors and hedge funds have recently modified their holdings of the stock. True Wealth Design LLC purchased a new stake in shares of The Hanover Insurance Group in the third quarter worth approximately $25,000. Wilmington Savings Fund Society FSB purchased a new stake in shares of The Hanover Insurance Group in the third quarter worth approximately $30,000. EverSource Wealth Advisors LLC raised its stake in shares of The Hanover Insurance Group by 91.9% in the fourth quarter. EverSource Wealth Advisors LLC now owns 213 shares of the insurance provider’s stock worth $33,000 after purchasing an additional 102 shares during the last quarter. Venturi Wealth Management LLC raised its stake in shares of The Hanover Insurance Group by 49.5% in the fourth quarter. Venturi Wealth Management LLC now owns 272 shares of the insurance provider’s stock worth $42,000 after purchasing an additional 90 shares during the last quarter. Finally, Eagle Bay Advisors LLC raised its stake in shares of The Hanover Insurance Group by 502.1% in the fourth quarter. Eagle Bay Advisors LLC now owns 283 shares of the insurance provider’s stock worth $44,000 after purchasing an additional 236 shares during the last quarter. 86.61% of the stock is owned by hedge funds and other institutional investors.

The Hanover Insurance Group Company Profile

The Hanover Insurance Group, Inc, through its subsidiaries, provides various property and casualty insurance products and services in the United States. The company operates through four segments: Core Commercial, Specialty, Personal Lines, and Other. The Commercial Lines segment offers commercial multiple peril, commercial automobile, workers' compensation, and other commercial lines coverage.